Question

A total of $8000 is invested: part at 6% and the remainder at 11%. How much is invested at each rate if the annual interest is $500?

Answer 1

Answer: See explanation

Explanation:

Based on the scenario in the question, our calculation goes thus:

0.11x + 0.06(8000 - x) = 500

0.11x + 480 - 0.06x = 500

0.11x - 0.06x = 500 - 480

0.05x = 20

x = 20/0.05

x = 400

$400 was invested at 11%

Also, 8000 - 400 = 7600 invested at 6%

Answer 2

Answer: Based on the scenario in the question, our calculation goes thus:0.11x + 0.06(8000 - x) = 5000.11x + 480 - 0.06x = 5000.11x - 0.06x = 500 - 4800.05x = 20x = 20/0.05x = 400$400 was invested at 11%Also, 8000 - 400 = 7600 invested at 6%

Explanation: